There was some cheer for the property market as today’s figures from the
Council of Mortgage Lenders (CML) showed that the number of first-time buyer
loans rose to 21,700 in November.

This is the highest monthly figure since the end of 2009, if this March’s rush
to beat the end of the stamp duty holiday is excluded.

Loans to first-time buyers were up 8 per cent on the previous month and up 24
per cent on last November’s total. They accounted for 41 per cent of all
home loans made in November, slightly more than the usual 38 per cent.